Despite Dogecoin's continuous price decline, renowned cryptocurrency researcher Ali Martinez has alluded to a possible bull run for the cryptocurrency DOGE/USD.
Martinez wrote on X, the former Twitter, on Wednesday, pointing out that Dogecoin is presently going through a 47% price correction, which is comparable to past cycles. He hypothesized that this might be the start of the next meme coin boom.
His post was sent at a volatile moment in the cryptocurrency market, when Dogecoin and other big cryptocurrencies were losing a lot of money around the beginning of May.
Martinez stated in the same forum that "[Dogecoin's] current price fall is a normal aspect of its nature before to huge bull runs!"
Over the past seven days, Dogecoin's decline has been 15.65%; over the course of 30 days, the decline has been greater, at 32.9%.
Martinez's forecast is consistent with his earlier observations of Dogecoin's behavior. He has previously observed that the coin tends to replicate its previous bull cycles, indicating that persistence may pay off.
The future of Dogecoin has also given other dealers hope. In his analysis of Dogecoin's recent performance, cryptocurrency trader Kevin pointed out that the coin was in a significant support zone and that, in the event that a true bull market developed, the 0.125-0.13 cent level would be critical.
May 2024, Cryptoniteuae